EU Watchdog Nixes Cartel Fines For BASF, Elementis

Law360, New York (July 5, 2011, 4:54 PM EDT) -- The European Commission repealed €100 million ($144 million) in fines against BASF SE and Elementis PLC on Tuesday for allegedly fixing prices for heat stabilizers based on a recent court ruling on the statute of limitations for cartel cases.

The European Union's antitrust watchdog decided to drop its 2009 infringement findings against BASF's Ciba unit and the British chemicals company after the bloc's highest court in March rejected the commission's interpretation of the statute of limitations for cartel cases in an unrelated appeal.

While the cartels...
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